Voluntary Suspension: How to “Pause” Your Benefit to Grow It Later
Confused by Social Security?
Did you file early and regret it? Once you reach Full Retirement Age, you can ask Social Security to stop sending you checks.
What Is Voluntary Suspension?
For every month you suspend (between FRA and 70), you earn Delayed Retirement Credits (8% per year). This permanently increases your benefit.
The “Gotcha”
When you suspend, spousal benefits on your record also stop. And you must pay your own Medicare premiums directly.
Who Should Do This?
People who filed early but returned to work, or who received an inheritance and want to “buy” a higher annuity.
About Author
Ray R. Harris
Ray R. Harris, RSSA®, partners with tax and legal professionals to provide specialized Social Security claiming analysis for high-net-worth clients aged 58–70. A former executive with an MBA and background in Finance, Ray mitigates liability for his partners by ensuring their clients optimize spousal benefits, tax efficiency, and lifetime income.
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